finance

The federal government has decided not to enter an International Monitory Fund (IMF) programme for now, Finance Minister Asad Umar as said on Saturday.

The finance minister made the remarks while talking to businessmen at the Karachi Chamber of Commence and Industry (KCCI).

Umar said that instead of rushing into the IMF programme, the government was exploring alternative options.

Furthermore, the finance minister announced that the government will unveil a mini-budget on Jan 23 instead of Jan 21. He associated the two-day delay to an impending foreign trip of Prime Minister Imran Khan.

The finance minister said that his visits of Lahore and Karachi was regarding a one-point agenda: the amended finance bill, which he said will facilitate businessmen.

Umar indicated that the amended bill will also carry “some good news” for the Pakistan Stock Exchange (PSX) .

The minister said that he consulted all stakeholders over the upcoming mini-budget, assuring the assortment of businessmen that tax anomalies will be eliminated in the budget.

The minister rejected the impression that the government was only borrowing money, stressing that several agreements have also been signed to bring investment into the country.

“The impacts of the investment agreements will start surfacing from the next week,” he added.